Otter Tail Co. (NASDAQ:OTTR) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 76.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,607 shares of the utilities provider’s stock after selling 61,426 shares during the period. Jane Street Group LLC’s holdings in Otter Tail were worth $1,374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of OTTR. Caisse DE Depot ET Placement DU Quebec raised its stake in Otter Tail by 168.8% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 223,005 shares of the utilities provider’s stock worth $16,467,000 after purchasing an additional 140,044 shares during the period. Northern Trust Corp raised its position in shares of Otter Tail by 15.1% during the 4th quarter. Northern Trust Corp now owns 545,618 shares of the utilities provider’s stock valued at $40,288,000 after buying an additional 71,601 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Otter Tail by 2.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 79,190 shares of the utilities provider’s stock valued at $5,847,000 after buying an additional 1,922 shares during the period. Aquatic Capital Management LLC lifted its holdings in Otter Tail by 17.2% in the fourth quarter. Aquatic Capital Management LLC now owns 18,635 shares of the utilities provider’s stock valued at $1,376,000 after acquiring an additional 2,735 shares during the last quarter. Finally, Nebula Research & Development LLC grew its position in Otter Tail by 9.2% in the fourth quarter. Nebula Research & Development LLC now owns 19,769 shares of the utilities provider’s stock worth $1,460,000 after acquiring an additional 1,661 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analysts Set New Price Targets

Separately, Siebert Williams Shank upgraded Otter Tail from a “hold” rating to a “buy” rating and lifted their target price for the company from $82.00 to $83.00 in a research report on Wednesday, May 7th.

Otter Tail Trading Down 0.2%

NASDAQ OTTR opened at $79.77 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. The stock has a market capitalization of $3.34 billion, a P/E ratio of 11.13 and a beta of 0.56. The firm’s 50-day moving average is $79.26 and its two-hundred day moving average is $78.72. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The firm had revenue of $337.35 million during the quarter, compared to analysts’ expectations of $349.70 million. During the same quarter last year, the company posted $1.77 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, May 15th. Otter Tail’s dividend payout ratio is currently 29.91%.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator markets.